Mallinckrodt PLC Rating Reiterated by JPMorgan Chase & Co. (MNK)
Mallinckrodt PLC (NYSE:MNK)‘s stock had its “hold” rating reaffirmed by research analysts at JPMorgan Chase & Co. in a report released on Friday, Stock Ratings Network reports. They currently have a $85.00 target price on the stock, up from their previous target price of $73.00. JPMorgan Chase & Co.’s price target would suggest a potential upside of 16.28% from the company’s current price.
MNK has been the subject of a number of other recent research reports. Analysts at CRT Capital upgraded shares of Mallinckrodt PLC from a “sell” rating to a “fair value” rating in a research note on Thursday, April 24th. They now have a $70.00 price target on the stock, up previously from $39.00. They noted that the move was a valuation call. Separately, analysts at UBS AG upgraded shares of Mallinckrodt PLC from a “sell” rating to a “buy” rating in a research note on Wednesday, April 9th. They now have a $84.00 price target on the stock, up previously from $43.00. Finally, analysts at BMO Capital Markets upgraded shares of Mallinckrodt PLC from a “market perform” rating to an “outperform” rating in a research note on Tuesday, April 8th. They now have a $71.00 price target on the stock, up previously from $70.00. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $72.24.
Shares of Mallinckrodt PLC (NYSE:MNK) opened at 73.58 on Friday. Mallinckrodt PLC has a 52-week low of $41.00 and a 52-week high of $77.91. The stock has a 50-day moving average of $66.20 and a 200-day moving average of $58.69. The company has a market cap of $4.282 billion and a P/E ratio of 67.75. Mallinckrodt PLC also was the recipient of a large growth in short interest in the month of April. As of April 30th, there was short interest totalling 12,744,260 shares, a growth of 31.3% from the April 15th total of 9,706,921 shares. Approximately 22.0% of the shares of the stock are short sold. Based on an average trading volume of 2,869,402 shares, the short-interest ratio is currently 4.4 days.
Mallinckrodt PLC (NYSE:MNK) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.95 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.78 by $0.17. The company had revenue of $557.80 million for the quarter, compared to the consensus estimate of $566.50 million. The company’s quarterly revenue was down 4.7% on a year-over-year basis. Analysts expect that Mallinckrodt PLC will post $3.21 EPS for the current fiscal year.
Mallinckrodt public limited company (NYSE:MNK) is a global specialty pharmaceuticals company.
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